10 Best Long Term Stocks to Buy According to Billionaires

6. Bank of America Corporation (NYSE:BAC)

Number of Billionaire Holders: 18

Bank of America Corporation (NYSE:BAC) is an American multinational investment bank and financial services company, headquartered in North Carolina. The bank provides a comprehensive suite of financial services and products to a wide range of clients, including individual consumers, small and mid-sized businesses, as well as large corporations. These offerings cover banking, investing, asset management, and various financial and risk management solutions. In the past 12 months, the stock has surged by nearly 6%.

Bank of America Corporation (NYSE:BAC) reported strong earnings in the first quarter of 2025. The company posted a revenue of $27.4 billion, which showed a 6% growth from the same period last year. The revenue growth was driven by noninterest income growth across all segments. The company’s net interest income came in at $14.4 billion, which also grew by 3% on a YoY basis.

Bank of America Corporation (NYSE:BAC)’s balance sheet was also stable, with average deposit balances of $1.96 trillion, up 3% from the prior-year period. This was the bank’s seventh consecutive quarter of growth in this area. The company reported a CET1 ratio of 11.8% under the standardized approach, comfortably exceeding the regulatory minimum of 10.7%. During the period, it returned a total of $6.5 billion to shareholders—$2.0 billion through common stock dividends and $4.5 billion via share buybacks.

Bank of America Corporation (NYSE:BAC) is a solid dividend payer, having raised its payouts for 11 consecutive years. Moreover, it has paid regular dividends for the past 27 years. The company offers a quarterly dividend of $0.26 per share and has a dividend yield of 2.74%, as of April 15.